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Budget airline Flybe reports full-year loss

Reuters

(Reuters) - British budget airline Flybe Group Plc (FLYB.L) reported a pretax loss for the full year, hurt by one-off costs and a charge related to its exit from a joint venture in Finland.

The carrier reported a loss before tax of 35.6 million pounds for the year ended March 31, from a profit of 8.1 million pounds a year earlier.

Revenue fell 7.5 percent to 574.1 million pounds ($885.26 million).

"Flybe Finland did not deliver on its expectations of generating profits in 2014/15 due to poor performance in its scheduled flying operations and therefore Flybe sold its interest in Flybe Finland for one Euro," the company said in a statement.

($1 = 0.6485 pounds)

(Reporting by Aastha Agnihotri Esha Vaish in Bengaluru; Editing by Anupama Dwivedi)